Travel disruption across the Gulf region has entered its fifth day, with thousands of passengers still stranded and airlines operating only limited flights out of major hubs like Dubai and Abu Dhabi amid continued regional conflict and widespread airspace closures.
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US President Donald Trump has said the US navy will protect ships in the Middle East and the government will provide insurance "if necessary" in a bid to contain soaring energy prices sparked by the US-Israel war with Iran.
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Saudi utility major Acwa has reported solid results for FY 2025 with its revenue soaring to hit SAR7.41 billion ($1.97 billion) and its net profit recording a 60% growth over the previous year as higher operating income and stronger contributions from operating assets lifted earnings.
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The gravity of the situation in the Middle East has moved from high to severe and consequently, the potential for events to weaken credit quality across sectors has increased, says an S&P Global Ratings report.
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The ongoing conflict in the Gulf and severe disruption to shipping through the Strait of Hormuz are beginning to weigh heavily on the region’s construction sector, with contractors facing mounting cost pressures, delivery delays and heightened financial risk.
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An oil tanker sailed through the Strait of Hormuz on Tuesday, heading to a United Arab Emirates port to load crude in a rare voyage since the Iran war severely disrupted shipping in the Middle East, according to industry sources and ship-tracking data quoted by Reuters.
Saudi Basic Industries Corporation (Sabic), has reported a net adjusted income of SAR2.1 billion ($560 million) for 2025, as annual revenue reached SAR116.5 billion ($31 billion). A key highlight was the global petchem leader's brand value exceeding the $5 billion threshold for the first time hitting $5.19 billion.
The UAE’s real estate market is one of the Gulf’s most resilient markets and is able to absorb geopolitical shocks thanks to its diversified investment base and openness to global capital flows, according to an expert.
AD Ports Group, a leading global enabler of trade, industry and logistics solutions, confirms that all operations across its clusters continue as normal in light of current regional developments.
The UAE said yesterday that 17,498 passengers have been transported on 60 flights operated by national carriers since March 1 as part of its emergency flights plan.
The UAE maintains strategic reserves of essential goods sufficient to cover market needs for a period ranging between four and six months, Abdulla bin Touq Al Marri, Minister of Economy and Tourism, said.
Iran has stepped up its attacks on US diplomatic missions in the Gulf, with a drone strike reported near the US Consulate in Dubai late last night. Meanwhile, Qatar said it busted two cells operating for Iran in the country.
New Murabba Development Company, a wholly-owned subsidiary of Saudi Arabia's sovereign wealth fund PIF, has signed a strategic agreement with Electric Vehicle Infrastructure Company (Eviq) for deployment of EV charging infrastructure across key assets within its giga project - New Murabba.
There was little relief for thousands of stranded passengers across the Gulf on Tuesday as sweeping airspace closures and mass flight cancellations continued to paralyse one of the world’s busiest aviation corridors.
Abu Dhabi National Energy Company (TAQA) has confirmed that operations across its UAE entities remain normal.
Abu Dhabi National Energy Company (TAQA) has confirmed that operations across its UAE entities remain normal.
Ajman Department of Tourism, Culture and Media signed a strategic agreement with Germany’s Vtours to boost Ajman’s promotion in Germany, expand international partnerships, support sustainable tourism growth, and strengthen the emirate’s competitiveness in European markets.
Saudi Arabia's heavy construction equipment market is poised for solid growth over the next few years with the market set to hit $3.5 billion by 2030, driven by the ongoing government initiatives and urbanisation trends. As the country continues to invest in mega projects, the demand for advanced machinery is set to rise, said a report.
The UAE’s real estate market is one of the Gulf’s most resilient markets and is able to absorb geopolitical shocks thanks to its diversified investment base and openness to global capital flows, according to an expert.
Saudi-based Misk Foundation has appointed Eng. Sami bin Jasser Al Jasser, a strategic development expert, as the new Chief Executive Officer of its mega Mohammed bin Salman Nonprofit City (Misk City) - a first-of-its-kind project coming up on a 3.4-sq-km area in capital Riyadh.
PureHealth, the largest healthcare group in the Middle East, and Yellow Door Energy, the leading sustainable energy partner for businesses in the Middle East and South Africa, have signed a master lease agreement to bring clean electricity to its network of hospitals and clinics in the UAE.
Dubai-based Union Properties has sealed a membership agreement with the Massachusetts Institute of Technology (MIT) through its globally recognised Industrial Liaison Programme in a move aimed at developing future-oriented models to help accelerate technology-led transformation in real estate.
The UAE maintains strategic reserves of essential goods sufficient to cover market needs for a period ranging between four and six months, Abdulla bin Touq Al Marri, Minister of Economy and Tourism, said.
GCC banking systems face few immediate credit risks from the regional conflict that has followed attacks on Iran by Israel and the US, says Fitch since the GCC sovereign ratings generally have sufficient headroom to withstand a short regional conflict that does not escalate significantly further.
Emirates Integrated Telecommunications Company (du) today confirmed that its network infrastructure, core systems and customer channels continue to operate normally, with full-service availability across mobile, fixed and enterprise segments.
New Murabba Development Company, a wholly-owned subsidiary of Saudi Arabia's sovereign wealth fund PIF, has signed a strategic agreement with Electric Vehicle Infrastructure Company (Eviq) for deployment of EV charging infrastructure across key assets within its giga project - New Murabba.
An emergency GCC-EU Ministerial Meeting will be held tomorrow (March 5), reported SPA citing Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi. The meeting will bring together, the foreign ministers of the GCC states and the European Union (EU) member states.
A United States submarine torpedoed and sank an Iranian warship in international waters off Sri Lanka’s southern coast on Wednesday, US Defense Secretary Pete Hegseth confirmed, in an incident that has heightened tensions in the Indian Ocean.
